Bybit's proof-of-reserves snapshot covers $17.3 billion across 50 cryptocurrencies

NewsBTC reported that Bybit has published its 41st proof-of-reserves update, which the exchange announced on November 3. The figures cover $17.3 billion across 50 cryptocurrencies, based on a snapshot taken on October 27 at 06:00 UTC.

Security firm Hacken carried out an independent verification of the numbers. Ether stood at 101%, Bitcoin at 102%, USDT at 112% and USDC at 405% in the ratios the exchange disclosed. The USDC figure was the highest cited, while Bitcoin and Ether sat just above 100%. Ratios exceeded 100% across all 50 assets included in the snapshot.

The snapshot captures only one specific moment, and the disclosure does not cover all liabilities or debts. NewsBTC noted that readers are urged to review the detailed methodology before drawing any conclusions from the figures.

Readers who want the full picture are pointed to the detailed methodology, which NewsBTC presents as the next step. The disclosure therefore describes one snapshot rather than every liability the exchange may carry. Hacken's independent verification is the one outside check described in the material.